All Forum Posts by: Edison Reis

Congrats from North of the border ! 

Hi Samuel 

I will check his book for sure. Lessons learn will likely exceed 20.00 bucks

Thanks

Cheers

Edison

Thanks Bram !

It was also great to get a deep perspective from a fellow Canadian.

Thanks Roy !

Thanks  Wayne !

That's what I thought but just want to double check.

All the best as always

Edison

Greetings fellow investors,

I am close to get into my first property and I am wondering about the following.

We are all aware that the interest paid on the mortgage is tax deductible but ......

A) Does the deduction relates to the contractual bank annual rate ? (I.e: 3% of the total mortgage)? 

Or ...... 

B) Does that mean you write off the annual  amount that the bank applied to pay the interest ? (Not the principal) 

Usually when you start a new mortgage 90% (or more) goes to pay the interest and a small fraction goes to pay the principal. 

Meaning ..... I am wondering what's  the interpretation of " interest tax deductible"?

I live in Canada but would appreciate feedback from our USA friends too.

Happy investing

Cheers 

Edison

Welcome Bethany !

I am from kelowna as well and in search for the first rental property !

Cheers

Edison

Hi Bill

Okanagan area here.

Please let me know if I can assist

Cheer

Edison 

Hi Bill

Okanagan area here.

Please let me know if I can assist

Cheer

Edison 

Welcome !

Kelowna here and in seeking for  my first property.  Getting very  close as we speak .

Cheers 

Edison 

Good info guys

Thanks for sharing it